Raw materials loom as key issue for flexible packaging industry, says FPA
Edited by David Bellm -- Packaging Digest, 7/24/2008 10:27:00 AM
Raw materials issues are a pressing concern throughout the flexible packaging industry, according to a new report by the Flexible Packaging Association.
The association's 2008 State of the Industry Report focuses on the "value-added" segment of the flexible packaging industry, valued at $19.8 billion. Included in this segment are retail and institutional packaging, industrial materials, and shrink and stretch films.
The report notes that the total flexible packaging industry had estimated annual sales of $25.6 billion in 2007, and for a decade it has grown continually at a compound rate of some 4 percent per year.
More than 85 percent of the study’s survey participants ranked the cost and availability of raw materials as the "most important" issue for 2008. The top five most important issues also included labor, competition, imports, and the economy / interest rates.
According to FPA, Flexible packaging is the second largest packaging segment in the U.S. representing approximately 18 percent of the total U.S. packaging industry and estimated annual sales of $135 billion.
FPA members can view and download copies of the 2008 State of the Industry Report at www.flexpack.org. Hard copies of the report are available by contacting FPA at (410) 694-0800
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